The worst of it could take place at the tail-end of the year, similar to the Christmas Eve meltdown of 2018. It may also come sooner. But regardless of the timing, RBC Capital Markets sees compelling reasons why another investors should remain on standby for another pullback by Dec. 31.
All of these market recoveries suffered between two and four sell-offs, ranging in severity from a 4% pullback to a 10% correction. There have been three such episodes so far in 2019, "suggesting that another would not be all that unusual," Calvasina said. "S&P 500 valuations are still extremely stretched, taking a clear turn for the worse on forward P/E recently," Calvasina said.
"At 1.16 standard deviations as of October 16th, this gauge remained above average and was close to the peaks of the current cycle," Calvasina said.
Right in line with the chaos of the election cycle.
Hee. Are China investors freaking?
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